Nifty Bank Indexלונג
BANKNIFTY IS READY FOR AN UPMOVE
BANKNIFTY is in sync with Gann Square Levels on daily charts. As it has been seen how the Gann Level & Gann Fan has acted as both support and resistance on multiple occasions. On weekly charts, a double bottom pattern has been formed but the prices hasn't been able to move up and have been hovering between 23000 - 21000 so further consolidation is less likely to occur and i think it's time that price will break the barrier.
The fibonacci levels on both hourly and daily charts are showing resistance of 22400 levels and support of 22120. Therefore, a long position can be initiated once the price breaks above the 22400 level and the stop-loss will be 22120
The fibonacci levels on both hourly and daily charts are showing resistance of 22400 levels and support of 22120. Therefore, a long position can be initiated once the price breaks above the 22400 level and the stop-loss will be 22120
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